Created
January 1, 2025 01:30
-
-
Save catOnStack/3e9aea351346cd316e6e0dcaa195da2d to your computer and use it in GitHub Desktop.
OP_CAT: The Ultimate Opcode for Bitcoin Innovation
This file contains hidden or bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
OP_CAT | |
Unmatched Adoption | |
Despite being activated just six months ago, OP_CAT has already outpaced other proposals like BIP 118 (SIGHASH_ANYPREVOUT, APO) and BIP 119 (OP_CHECKTEMPLATEVERIFY, CTV), which have been on signet for nearly two years. With 10 times more transactions on signet, OP_CAT’s usage dwarfs APO’s and CTV’s, showcasing its exponential adoption (source). | |
Proven Track Record | |
OP_CAT’s reliability is well-established, having been deployed on the Liquid Network and signet. Tens of millions of transactions have been processed without a single exploit, underscoring its security and practicality. | |
Dispelling Myths | |
Inefficiency: While OP_CAT is generic, its optimization becomes straightforward as specific use cases are identified. | |
Concern on MEV: Root cause of MEV in Bitcoin is Replace-By-Fee (RBF), it's already there, enabling OP_CAT doesn't introduce MEV. | |
Centralization: OP_CAT fosters decentralized Layer 2 solutions, minimizing dependence on trusted intermediaries. | |
OP_CSFS/CHECKSIGFROMSTACK: It enables signature verification against arbitrary data, can be emulated using OP_CAT and OP_CHECKSIG. However, its full potential remains untapped without OP_CAT. | |
OP_CTV/CHECKTEMPLATEVERIFY: While OP_CTV enforces predefined spending templates, its scope is limited, particularly in supporting recursive covenants. | |
OP_VAULT: Designed exclusively for vaults purpose, OP_VAULT lacks versatility. OP_CAT not only replicates its functionality but also extends far beyond it. | |
TXHASH: Although a superset of OP_CTV, TXHASH’s capabilities can be expanded further with OP_CAT. | |
ANYPREVOUT (SIGHASH_APO): Tailored for Lightning Network optimization, it serves a niche purpose compared to OP_CAT’s broad applicability. | |
Conclusion | |
OP_CAT’s unparalleled versatility, proven reliability, and rapid adoption make it the superior choice for advancing Bitcoin’s functionality. Its ability to support a wide range of use cases while maintaining security and decentralization solidifies its position as a cornerstone of Bitcoin Script innovation. |
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment